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On an average, a person buys six to ten cars during his lifetime.Repeat business is a windfall and this is your true earnings.|On an average, a person buys six to ten cars during his lifetime.Repeat business is a windfall and this is your true earnings.
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A good stockbroker, insurance agent or a car salesperson will confirm and ratify,|A good stockbroker, insurance agent or a car salesperson will confirm and ratify,
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that relationship selling is what makes work easier and more lucrative as time goes by.|that relationship selling is what makes work easier and more lucrative as time goes by.
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Besides repeat business, a major benefit of relationship-selling|Besides repeat business, a major benefit of relationship-selling
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is that it leads to referrals which is the best source of prospecting referrals can be a two-way street|is that it leads to referrals which is the best source of prospecting referrals can be a two-way street
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good professionals both get and give referrals.|good professionals both get and give referrals.
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There is no better advertisement than word of mouth from existing clients.|There is no better advertisement than word of mouth from existing clients.
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I have been dealing with my real estate agent for the last twenty years.|I have been dealing with my real estate agent for the last twenty years.
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In fact, in most of the transactions I have not even been a part of the negotiation.|In fact, in most of the transactions I have not even been a part of the negotiation.
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This raises two questions - why have I not changed my broker and have other brokers not approached me?|This raises two questions - why have I not changed my broker and have other brokers not approached me?
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Of course, I have been approached, but I have chosen to continue doing business with my present broker.|Of course, I have been approached, but I have chosen to continue doing business with my present broker.
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I have maintained my loyalty because of relationship. When we start in the profession of selling, we look for business.|I have maintained my loyalty because of relationship. When we start in the profession of selling, we look for business.
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But when we establish our credibality,|But when we establish our credibality,
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the business starts looking for us.|the business starts looking for us.
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ZERO DEFECT:|ZERO DEFECT:
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Henry, my taxi driver in our Singapore office has been with me for the last ten years.|Henry, my taxi driver in our Singapore office has been with me for the last ten years.
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The first day when I sat in his taxi, there was a newspaper lying on the seat I picked it up and started reading.|The first day when I sat in his taxi, there was a newspaper lying on the seat I picked it up and started reading.
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He asked me, ‘Sir, do you enjoy reading the newspaper every day?’|He asked me, ‘Sir, do you enjoy reading the newspaper every day?’
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I said, ‘Yes.’ Then he asked me, ‘Would you like me to pick the newspaper for you on a daily basis?’ I said,|I said, ‘Yes.’ Then he asked me, ‘Would you like me to pick the newspaper for you on a daily basis?’ I said,
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‘Yes and I will be happy to pay for it.’|‘Yes and I will be happy to pay for it.’
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In the last ten yearscannot remember a single day when I sat in his taxi and he did not give me the newspaper, without my ever asking or reminding.|In the last ten yearscannot remember a single day when I sat in his taxi and he did not give me the newspaper, without my ever asking or reminding.
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I’m sure, in the last ten years there must have been days when he went through crisis situations, but he delivered.|I’m sure, in the last ten years there must have been days when he went through crisis situations, but he delivered.
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Can you imagine ten years without exception,|Can you imagine ten years without exception,
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giving hundred per cent performance!|giving hundred per cent performance!
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Henry converted me from a customer into a lifetime client.|Henry converted me from a customer into a lifetime client.
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Chapter Ten: Psychology of Selling|Chapter Ten: Psychology of Selling
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CARDINAL RULE|CARDINAL RULE
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A lot of research has been done on personality types and they have been classified under various labels by different organizations and researchers.|A lot of research has been done on personality types and they have been classified under various labels by different organizations and researchers.
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However, in my thirty-five years of experience in Selling,|However, in my thirty-five years of experience in Selling,
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I have never made a conscious effort to analyze the buyer's personality,|I have never made a conscious effort to analyze the buyer's personality,
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and nor have I tried to match my personality style to suit the other person.|and nor have I tried to match my personality style to suit the other person.
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In fact, I sometimes wonder how a Salesperson can change their personality style from buyer to buyer.|In fact, I sometimes wonder how a Salesperson can change their personality style from buyer to buyer.
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To me it feels a little contrived, though I believe in personalizing and being aware of the surroundings and circumstances in order to establish rapport.|To me it feels a little contrived, though I believe in personalizing and being aware of the surroundings and circumstances in order to establish rapport.
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PROSPECTS VARY IN BEHAVIOR:|PROSPECTS VARY IN BEHAVIOR:
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Some are polite and courteous.|Some are polite and courteous.
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Others are rude and ill-mannered. Some are very open andOthers are not so open and beat around direct. the bush.|Others are rude and ill-mannered. Some are very open andOthers are not so open and beat around direct. the bush.
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Some take time deciding.|Some take time deciding.
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Others take their decisions quickly.|Others take their decisions quickly.
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Some are willing to take Others are very conservative.|Some are willing to take Others are very conservative.
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Some are willing to listen Others only talk.|Some are willing to listen Others only talk.
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Some are calm and introverts, Others are aggressive and extroverts.|Some are calm and introverts, Others are aggressive and extroverts.
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Some people are visually motivated - they like to see and look.Some are auditory motivated|Some people are visually motivated - they like to see and look.Some are auditory motivated
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they like to hear and listen.|they like to hear and listen.
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Some are physically or kinesthetically motivated, which means they like to touch and feel.|Some are physically or kinesthetically motivated, which means they like to touch and feel.
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Good communication includes being sensitive to all of the above behaviors, besides knowing how to question, listen carefully, give feedback,|Good communication includes being sensitive to all of the above behaviors, besides knowing how to question, listen carefully, give feedback,
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observe and identify feelings.|observe and identify feelings.
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Have I always been able to judge people’s personality and behavior correctly?The answer is no. Can I change my behavior to suit every personality?The answer is no.|Have I always been able to judge people’s personality and behavior correctly?The answer is no. Can I change my behavior to suit every personality?The answer...
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Have I handled every situation satisfactorily? The answer is no.|Have I handled every situation satisfactorily? The answer is no.
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However, I feel that there are certain universal principles of appropriate and inappropriate words, behavior and actions.|However, I feel that there are certain universal principles of appropriate and inappropriate words, behavior and actions.
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If applied correctly,|If applied correctly,
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they can bring positive results.|they can bring positive results.
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In my experience, regardless of the personality styles, most people fall into two categories - thinkers and feelers.|In my experience, regardless of the personality styles, most people fall into two categories - thinkers and feelers.
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The Thinker’s decisions are guided by analysis and logic, whereas a Feeler’s decisions are guided a little more by emotions.|The Thinker’s decisions are guided by analysis and logic, whereas a Feeler’s decisions are guided a little more by emotions.
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Both are present in each individual and eventually they both must be satisfied.|Both are present in each individual and eventually they both must be satisfied.
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As the saying goes, ‘Logic opens the mind but emotions open the cheque book!’|As the saying goes, ‘Logic opens the mind but emotions open the cheque book!’
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EMOTIONAL APPEAL|EMOTIONAL APPEAL
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A good professional understands the buying motive.|A good professional understands the buying motive.
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Would buying life insurance appeal to a person’s saving instinct or love for his family?|Would buying life insurance appeal to a person’s saving instinct or love for his family?
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Is a person buying a car as a status symbol or as a necessity?|Is a person buying a car as a status symbol or as a necessity?
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A salesperson in a shop selling clothes should be sensitive to a buyer’s need as to whether the buyer is looking for designer labels or utility garments.|A salesperson in a shop selling clothes should be sensitive to a buyer’s need as to whether the buyer is looking for designer labels or utility garments.
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Good professionals use stories and analogies to reinforce the sale and make their point. This provides emotional security.|Good professionals use stories and analogies to reinforce the sale and make their point. This provides emotional security.
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For example: ‘Our guarantee is as good as twenty-four carat gold.’|For example: ‘Our guarantee is as good as twenty-four carat gold.’
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Another example is: ‘We are the McDonald’s of our industry,’ or ‘We are like the Rolls Royce of this industry.’|Another example is: ‘We are the McDonald’s of our industry,’ or ‘We are like the Rolls Royce of this industry.’
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I have also seen salespeople use a combined analogy: ‘Our product is like the Rolls Royce, yet we are a household name like McDonald’s.’|I have also seen salespeople use a combined analogy: ‘Our product is like the Rolls Royce, yet we are a household name like McDonald’s.’
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In the seventeen hundreds when the hatred between the English and the French was high,|In the seventeen hundreds when the hatred between the English and the French was high,
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Voltaire visited England in the year seventeen twenty-seven.|Voltaire visited England in the year seventeen twenty-seven.
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It was unsafe for French men to be seen on the street.|It was unsafe for French men to be seen on the street.
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One day as Voltaire was walking, some angry and violent Englishmen surrounded him and shouted ‘hang this Frenchman and kill him”.|One day as Voltaire was walking, some angry and violent Englishmen surrounded him and shouted ‘hang this Frenchman and kill him”.
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Voltaire knew that reason would not prevail at this time. He had to appeal to emotion to save his life.|Voltaire knew that reason would not prevail at this time. He had to appeal to emotion to save his life.
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Voltaire stopped them and said, “You all want to kill me because I am a Frenchman!|Voltaire stopped them and said, “You all want to kill me because I am a Frenchman!
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His answer appealed to their emotions and they let him go safely.His ability to sell his idea saved his life.|His answer appealed to their emotions and they let him go safely.His ability to sell his idea saved his life.
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PSYCHOLOGY OF ASKING QUESTIONS:|PSYCHOLOGY OF ASKING QUESTIONS:
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A good sales professional would like to qualify his prospect by asking questions.Asking questions and listening carefully helps identify the psychological needs of the prospect.|A good sales professional would like to qualify his prospect by asking questions.Asking questions and listening carefully helps identify the p...
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Questions put you in the driver’s seat and help you direct the presentation.|Questions put you in the driver’s seat and help you direct the presentation.
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By asking questions that give a prospect alternate choices,|By asking questions that give a prospect alternate choices,
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You don’t give the buyer a choice between buying and not buying, but rather a choice between buying this or that.|You don’t give the buyer a choice between buying and not buying, but rather a choice between buying this or that.
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When such a question is asked, giving choices to buy one or the other,|When such a question is asked, giving choices to buy one or the other,
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If there is any inclination to buy, then psychologically, the prospect starts thinking which one to buy rather than whether to buy or not.|If there is any inclination to buy, then psychologically, the prospect starts thinking which one to buy rather than whether to buy or not.
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PSYCHOLOGY OF A BUYER|PSYCHOLOGY OF A BUYER
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There was a little girl who used to buy a pound of chocolates every day from one shop.|There was a little girl who used to buy a pound of chocolates every day from one shop.
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One day, her mother told her to buy chocolates from another shop.|One day, her mother told her to buy chocolates from another shop.
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The mother couldn’t understand her daughter’s answer because to her, a pound meant a pound. So, she asked, ‘How do you know that this Salesperson gives you more chocolates?’|The mother couldn’t understand her daughter’s answer because to her, a pound meant a pound. So, she asked, ‘How do you know that this Salesperso...
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The little girl explained that every time he put chocolates in the packet, he would always add more after weighing.|The little girl explained that every time he put chocolates in the packet, he would always add more after weighing.
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She always thought that the shop owner was giving her extra.|She always thought that the shop owner was giving her extra.
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The other salesman always put more chocolates initially and after weighing a pound took out a few.|The other salesman always put more chocolates initially and after weighing a pound took out a few.
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The little girl got the impression that the first salesman was giving more and the other one was taking away.|The little girl got the impression that the first salesman was giving more and the other one was taking away.
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she felt she was getting more from the one who was actually putting in less first and then adding more to make it a pound.|she felt she was getting more from the one who was actually putting in less first and then adding more to make it a pound.
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DIFFERENCE BETWEEN PRICE AND COST (FROM THE BUYER’S PERSPECTIVE)|DIFFERENCE BETWEEN PRICE AND COST (FROM THE BUYER’S PERSPECTIVE)
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There is a big difference between price and cost.|There is a big difference between price and cost.
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Price is a one-time initial outlay towards acquisition of a product whereas cost is the total outlay during the lifetime of the product,|Price is a one-time initial outlay towards acquisition of a product whereas cost is the total outlay during the lifetime of the product,
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which includes running, servicing, break downs, repairs etc.|which includes running, servicing, break downs, repairs etc.
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Something may have a low price but have a high cost whereas others may have a high price but actually turn out to be low cost.|Something may have a low price but have a high cost whereas others may have a high price but actually turn out to be low cost.
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People buy value for money, not price. Whenever a sale is made, people buy the package and not the price.|People buy value for money, not price. Whenever a sale is made, people buy the package and not the price.
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PSYCHOLOGY OF GETTING COMMITMENT AND CLOSING A SALE:|PSYCHOLOGY OF GETTING COMMITMENT AND CLOSING A SALE:
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Supposing someone asks a salesperson, ‘Can you have this machine delivered Friday morning?’ The salesperson replies,|Supposing someone asks a salesperson, ‘Can you have this machine delivered Friday morning?’ The salesperson replies,
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“Yes, I can get it delivered.’ The customer says, “OK, thanks for the information,’ and goes away.|“Yes, I can get it delivered.’ The customer says, “OK, thanks for the information,’ and goes away.
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What happened? Just analyze the interaction here.|What happened? Just analyze the interaction here.
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Why did the customer ask if the machine could be delivered by Friday?|Why did the customer ask if the machine could be delivered by Friday?
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Since the salesperson answered in the affirmative, the customer went away with only the information.|Since the salesperson answered in the affirmative, the customer went away with only the information.
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Did the salesman get any commitment? Is he a sales professional?|Did the salesman get any commitment? Is he a sales professional?
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